| DESPERATE PLEA TO FIX MIDLANDS ROADS AHEAD OF FESTIVE SEASON |
The deteriorating state of roads in the KZN Midlands is reaching a crisis point that is throttling the region’s tourism and agricultural lifeline, said uMngeni Mayor Chris Pappas. He didn’t pull any punches in his warning that pothole-riddled provincial routes are driving tourists away and threatening local livelihoods, saying previous appeals to the provincial Department of Transport (DOT) have fallen on deaf ears. Of particular concern are the key arterial routes along the R103 and R617 ahead of the festive season.
DOT conceded that road infrastructure is in poor condition and blamed budget cuts with only R2 billion of the R6 billion needed for maintenance allocated to the province’s 34 000-km network. (SOURCE: The Witness) |
| RED FEATHER LEGACY PAYS TRIBUTE TO LIFELONG SERVICE |
Merusha Vather (left) with Angie Narayanan of the Community Chest.
As the Community Chest marks its 65th anniversary, it has honoured Merusha Vather, Deputy Business Unit Leader at the Auditor-General of South Africa, for her donation to the Red Feather Legacy Project in memory of her late father, Shunmogam “Lallie” Govender. Known for his lifelong service to others, his legacy continues through Merusha and her family. The Red Feather Legacy Project ensures the Chest’s sustainability by investing donors’ contributions, using only the returns for operations. With 65 plaques adorning its Stranack Street offices, the Chest celebrates donors whose generosity keeps its mission thriving.
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| ONLINE GAMBLING POLL: NO REDEMPTION OF 'GATEWAY TO POVERTY' |
Yesterday’s survey - the first one conducted since eBizBlitz moved to a new email service provider and that includes a comment section - confirmed that online gambling is a serious problem weighing on readers’ minds. While there was 100% acknowledgement of the problem, 3% of respondents argued for more online gambling regulation rather than a blanket ban.
Some comments included:
"This is a gateway to poverty. A child could also easily access an adult’s device."
"All advertising should be banned and the Sharks should find another sponsor!"
"It must be outlawed because personal restraint and control are obviously abdicated and the consequences are seemingly condoned."
"An adult under financial pressure could grasp at what is presented as an easy 'get rich' method."
Thank you for voting!
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1996: The Choice on Termination of Pregnancy (CTOP) Act was passed to allow women to terminate pregnancies on request within the first 12 weeks of pregnancy.
Elsewhere, in 2011, the world's official population is deemed to have reached seven billion.
Today is a day of counting pennies and stashing piggy banks, on World Savings Day. |
MEDICAL SCHEMES PUSH BACK ON R29 BILLION TAX CREDIT CUTS
Medical schemes have called on the Treasury to clarify its plan to remove R29 billion in annual medical tax credits that currently benefit more than 8.9 million members. The industry warns that eliminating these credits before the National Health Insurance (NHI) system is fully operational could push up to 500 000 members out of private cover, placing further strain on already overburdened public hospitals.
The government argues that redirecting the funds will help finance the NHI and improve healthcare equity. However, the Board of Healthcare Funders and other stakeholders insist that without a phased, transparent transition plan, the move could destabilize both the private and public healthcare sectors, undermining confidence in the NHI rollout. (SOURCE: BDLive)
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TAX OMBUDSMAN RECOVERS R168 MILLION FOR 10 TAXPAYERS
The Office of the Tax Ombudsman’s 2024/25 report shows SARS refunded 10 taxpayers R168 million following complaints. Of 4 913 complaints received, 2 265 were accepted and returned with recommendations, mainly addressing delayed verifications, tax-residency certificates, and portfolio maintenance. SARS resolved 2 390 complaints, implementing 99% of the ombud’s recommendations. The top 10 refunds, mostly for VAT, Corporate Income Tax, and Payroll Tax, amounted to R167.98 million. While overall dispute resolution improved, cases taking over 91 days remain a challenge. The OTO highlighted that taxpayer awareness of processes and exhausting SARS internal channels is critical for faster resolution and meaningful financial relief. (SOURCE: Business Tech)
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IN KZN: PINETOWN PLANT POWERS SA’S ELECTRIC BUS REVOLUTION
South Africa’s shift to clean transport is accelerating as MAN Truck & Bus South Africa’s Pinetown plant begins producing 100 fully electric city buses for the Paruk Group - MAN’s largest e-bus order outside Europe. The locally built Lion’s Explorer E, featuring four 80 kWh battery packs, will be assembled in Pinetown with bodies produced in Olifantsfontein. Deliveries start in 2026 and conclude by 2027. Paruk Group owner Mohmed Paruk called the move from diesel to electric “a bold but natural evolution.” MAN SA MD Jan Aichinger said local production marks a first for South Africa’s automotive industry. (SOURCE: Engineering News)
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IN KZN: JSE-LISTED REIT LOADS UP ON RURAL PORTFOLIO
JSE-listed Fairvest is strengthening its KZN footprint with a R674 million deal to acquire Jozini Mall and Tugela Ferry Mall from Muller Group Invest at a 10.17% yield. These additions join Fairvest’s growing KZN portfolio, which already includes Shoprite Manguzi, Ulundi Shopping Centre and Nquthu Shopping Centre to .supports its strategy of investing in retail centres serving underserviced rural communities. Fairvest also continues to invest in township fibre infrastructure through Onepath Investments, driving inclusive commercial and digital development across the province. (SOURCE: SENS)
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MACPHERSON PUSHES BUTTON ON FAILING CONTRACTORS
Public Works and Infrastructure Minister Dean Macpherson has announced a tough new action plan to address chronic contractor failures that delay government projects. The plan includes blacklisting underperforming or fraudulent contractors and introducing a digital tracking system to monitor project delivery in real time. Macpherson said poor performance and corruption have cost the state billions and undermined service delivery. The new system will strengthen accountability and ensure that only qualified, compliant contractors are awarded public tenders. The initiative forms part of a broader drive to restore credibility, speed up infrastructure rollout, and protect taxpayer funds from waste and abuse. (SOURCE: BDLive)
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R2.5 BILLION YOUTH FUND TO TACKLE UNEMPLOYMENT
South Africa will start disbursing loans from a R2.5 billion Youth Fund to tackle its high youth unemployment. Nearly half of citizens aged 15–34 are jobless. The fund, managed by the NYDA, shifts focus from micro-grants to larger equity-based investments, offering R750,000–R2 million per business. It targets youth-owned SMEs in renewable energy, mining, agriculture, manufacturing, and processing. Capitalized with R1.2 billion from the NYDA and provincial contributions, the initiative seeks partnerships with IDC, DBSA, PIC, and mining firms. Deputy Chair Bonga Makhanya emphasizes sustainable growth, aiming to develop enterprises capable of listing on the JSE. (SOURCE: Moneyweb)
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STUDY PINPOINTS 3 SECTORS TO UNLOCK R100 BILLION INDUSTRIAL GROWTH
A joint study by the Public Investment Corporation (PIC) and Oxford Economics Africa estimates that South Africa could unlock over R100 billion in new industrial value and create up to 200 000 jobs through targeted investment in three key sectors - agro-processing, mining beneficiation and automotive manufacturing. The report says agro-processing alone could contribute R40 billion, while mining and automotive industries could each add R30 billion to GDP. However, it warns that poor logistics, energy constraints and policy uncertainty continue to hinder growth. The study urges greater public-private collaboration to modernise transport and energy infrastructure, boost export competitiveness and position South Africa as a leading industrial hub in sub-Saharan Africa. (SOURCE: BDLive)
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... AS SANLAM'S R4 BILLION FUND DRIVES INFRASTRUCTURE INVESTMENT
Sanlam Investments introduces a R4 billion Property Impact Fund targeting high-growth social infrastructure sectors including affordable housing, student accommodation, rural and township retail, education, and healthcare. Seeded with R1.4 billion, the fund seeks CPI + 9% annual returns by focusing on South Africa’s underserved "missing middle" market. Using geospatial analysis to pinpoint investment opportunities, it addresses a R2.9 trillion asset opportunity, outperforming traditional commercial property sectors. This strategic focus aims to deliver stable, attractive returns while driving inclusive economic growth through essential infrastructure investments benefiting middle-income communities.
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SEIFSA BOOSTS ARTISAN SKILLS WITH R20 MIILLION REVAMPED CENTRE
The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has unveiled R20 million in upgrades to its Seifsa Training Centre (STC) in Benoni, showcasing modern facilities at its annual artisan awards. In partnership with skills firm Thuthukisa, the STC now features advanced computer numerical control (CNC) machinery, upgraded toolmaker accreditation, and a state-of-the-art smart classroom that simulates real industrial conditions. Thuthukisa director Rajendra Rajcoomar said the improvements align with Fourth Industrial Revolution (4IR) technologies and new artisanal qualifications. The Entrepreneurial and Incubation Hubs, which have supported more than 150 young artisans, provide mentorship and business guidance. Seifsa aims to expand its training across additional industries and increase student enrolment by 30% in 2026. (SOURCE: Engineering News) |
... AS GOOGLE INVESTS R49 MILLION TO BOOST AI TRAINING
Google has committed R49 million to expand AI skills, education, and cybersecurity in South Africa. Announced at AI Expo Africa, the funding through Google.org supports initiatives to strengthen the country’s digital economy. Beneficiaries include the African Institute for Mathematical Sciences, FateFoundation, Junior Achievement Africa, and the CyberSafe Foundation. Projects range from integrating DeepMind’s AI curriculum in universities to online safety training for youth. Country director Kabelo Makwane said the investment reflects Google’s commitment to building an inclusive, secure AI ecosystem that empowers communities and prepares South Africans for a future shaped by artificial intelligence.(SOURCE: Bizcommunity)
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RECORD GOLD PRICES SPUR ILLEGAL-MINING SURGE
Pan African Resources has reported a sharp rise in illegal mining at its Barberton and Evander operations in Mpumalanga, with 4 032 arrests made in the past year - up from 2 210 the year before. The surge coincides with gold prices averaging $2 430/oz, prompting criminal syndicates to intensify activity across disused shafts. CEO Cobus Loots said illegal mining now costs the company more than R200 million annually in security, repairs and production losses. South Africa, once the world’s top gold producer, now faces escalating illegal mining estimated to drain R7 billion from the economy each year, threatening legitimate jobs and investor confidence. (SOURCE: BDLive)
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... AS GOLD DEMAND BUMPS RECORD R1.97 TRILLION SALES
The World Gold Council has raised its annual demand forecast after global gold purchases surged to a record $146 billion (about R1.97 trillion) in Q3 20250. The spike was driven by central banks, which increased their holdings amid economic uncertainty, currency volatility, and persistent inflation. Investor appetite for the safe-haven metal also grew as geopolitical tensions deepened. The Council now expects total 2025 demand to surpass previous highs, buoyed by steady jewellery sales and strong central bank buying. Analysts say the trend reflects a global shift toward gold as a hedge against inflation, debt concerns, and market instability. (SOURCE: Reuters)
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BITCOIN SLIPS AS FED SIGNALS CAUTION ON CUTS
Bitcoin dropped as much as 3.1% to below $108 000 (about R1.87 million) yesterday , edging toward the lower end of its recent range after the Federal Reserve cut rates by 25 basis points to 3.75%-4%. Fed Chair Jerome Powell warned against assuming further cuts, dampening risk appetite. The decline accelerated after US President Donald Trump’s meeting with China’s Xi Jinping, though losses eased following news of a trade deal. Analysts said Powell’s cautious tone and market uncertainty drove volatility, with traders eyeing support between $107 000 and $100 000. Treasury yields and the Dollar strengthened as equities and crypto assets turned lower. (SOURCE: Bloomberg)
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Your true character is most accurately measured by how you treat those who can do nothing for you.
Mother Teresa |
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| Dollar | R17.30 | - 0.05% | | Pound | R22.75 | - 0.20% | | Euro | R20.01 | - 0.19% | | Yen | 0.112296 |
| | Yuan | R2.43 | - 0.02% | | Bitcoin | $ 109 549.40 | + 1.58% |
These rates are correct at time of going to press. | | Platinum | $ 1 624.23
| + 1.60% | | Gold | $ 4 010.27
| - 0.36% | | Oil | $ 63.81
| - 0.27% | | All Share | 109 670.29
| - 0.64% | | Repo | 7.00 | | | Prime | 10.50 | |
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